MONTREAL—The sale of Quad/Graphics to Transcontinental (TC) has the green light to proceed.

Transcontinental announced today that it received approval from the Competition Bureau of Canada for the indirect acquisition of Quad/Graphics' shares. The closure of the transaction is expected in the next few weeks.

Transcontinental agreed to buy all the assets of Quad/Graphics in July 2011, including seven printing facilities, while selling its Mexican assets and transferring its black and white book printing business destined for U.S. export to Quad. That transaction was completed in September.